Telefónica has successfully closed the largest multi-tranche Czech koruna bond issue by a foreign corporate. The main purpose of the transaction was to extend the company’s investor base to Czech investors – a move the Spanish telephone company has been interested in since its arrival in the Czech Republic after it acquired a majority stake in the country’s main telecom operator, Cesky Telecom, in mid-2005.
In the past decade Telefónica has spent more than $80 billion on acquisitions to become the largest former state-run telephone monopoly in Europe.
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